Why congestion pricing — a great idea! — is doomed
https://www.washingtonpost.com/wp-apps/imrs.php?src=https://arc-anglerfish-washpost-prod-washpost.s3.amazonaws.com/public/ES6L7U7JJ5XK3UYJN7U5WEP5WA_size-normalized.jpg&w=1440
Fans of Friedrich Hayek know that a price is a glorious thing. In his 1945 essay, “The Use of Knowledge in Society,” Hayek asks us to imagine that for some reason tin has come to be in short supply. In less time than it would take the government to form a
committee to study the shortage, the invisible hand of the marketplace resolves it. As tin gets scarcer, users with a pressing need for the metal bid up the price, sending a strong signal to all users of tin: Economize! As if by magic, across the globe,
suppliers look to see whether they can supply more at the higher prices, while processes are rejiggered to use less of the now-precious metal, and some low-margin products are taken out of production entirely, freeing up tin for higher-value uses.
https://www.washingtonpost.com/opinions/2024/06/12/congestion-pricing-great-idea-people-hate/
feeds.washingtonpost.com_5 / Washington Post Opinion
npub1w7…xsf2u
2024-06-12 12:32:35
Author Public Key
npub1w7ayhkyzyjqtg2thc3xcmk9r2gq3g8nq9c3nvyknl5jxsharq09quxsf2uPublished at
2024-06-12 12:32:35Event JSON
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